Norris Bruce
Jan 05, 2017

Buying More Affordable Than Renting in 66% of U.S. Markets

Today’s News Synopsis:

The latest report from ATTOM Data Solutions shows 66% of markets in the U.S. believe it is more affordable to buy than to rent.  The Mortgage Bankers Association reported a 0.6% increase in mortgage credit availability last month.  Lending on commercial and multifamily properties is expected to be strong and healthy this year.

In The News:

Realty Trac – “Buying More Affordable than Renting in 66 Percent of U.S. Housing Markets” (1-5-17)

“ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its 2017 Rental Affordability Report, which shows that buying a home is more affordable than renting in 66 percent of U.S. housing markets analyzed for the report.”

Bloomberg – “Fed’s Williams Sees Three-Hike 2017 Outlook as ‘Very Reasonable'” (1-5-17)

“Three interest-rate increases this year is a “reasonable” assessment of what the U.S. central bank should do at a time when unemployment has declined and inflation is slowly moving up, said Federal Reserve Bank of San Francisco President John Williams.”

Mortgage Bankers Association – “Mortgage Credit Availability Increases in December” (1-5-17)

“Mortgage credit availability increased in December according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool.”

The Washington Post – “D.C. real estate brokers to star in HGTV home-flipping show” (1-5-17)

“Ati and Rob Williams, married owners of an array of real estate businesses in the District, including real estate brokerage DC Home Buzz, bought their first property together to renovate as an investment when they had been dating for only four months. A decade later, the Williamses are the hosts of the HGTV pilot “DC Flippers,” which airs Sunday.”

DS News – “Compliance and Security Draw Concerns for Banks” (1-5-17)

“The Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective for Fall 2016, which analyzes pertinent data and industry trends using four key components: the operating environment, bank performance, trends in key risks, and regulatory actions.”

Bloomberg – “Washington-Area Snow May Affect Release of U.S. Jobs, Trade Data” (1-5-17)

“Forecasts of snow in the Washington area late Thursday into Friday morning raise the possibility of a delayed opening for government agencies that release the U.S. jobs report and trade data.”

Mortgage Bankers Association – “Survey: Commercial and Multifamily Originators Expect Strong, Steady Market in 2017” (1-5-17)

“Commercial and multifamily mortgage lending is expected to increase in 2017, as lenders’ appetites to place new loans and borrowers’ appetites to borrow both remain strong, according to a new Mortgage Bankers Association survey of the top commercial and multifamily mortgage origination firms.”

 

Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with CVREIA on Tuesday, January 10.

Bruce Norris of The Norris Group will be presenting 2% Interest, $30 Trillion in Debt, and Other Suprise Endings on Saturday, February 4.

Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with OC FIBI on Tuesday, February 7.

Image copyright source: www.flickr.com/photos/ishane

 

Looking Back:

CoreLogic reported a 6.3% increase in home prices in November.  Existing-home sales were expected to continue to show signs of increase following the CFPB putting the  TILA-RESPA Integrated Disclosure rule into action.  Mortgage rates were expected to increase again following a history of relatively cheap rates.

 

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.





 

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